Travere Therapeutics (NASDAQ:TVTX) Coverage Initiated at TD Cowen

TD Cowen assumed coverage on shares of Travere Therapeutics (NASDAQ:TVTX – Get Rating) in a report issued on Monday, Briefing.com reports. The brokerage issued an outperform rating and a $30.00 target price on the stock.

A number of other research firms have also commented on TVTX. Canaccord Genuity Group reduced their target price on Travere Therapeutics from $44.00 to $42.00 and set a buy rating for the company in a report on Tuesday, February 28th. Piper Sandler decreased their target price on Travere Therapeutics from $44.00 to $41.00 in a research report on Monday, March 13th. Bryan, Garnier & Co upgraded shares of Travere Therapeutics from a sell rating to a neutral rating in a research note on Friday, May 5th. Guggenheim reduced their price target on shares of Travere Therapeutics from $40.00 to $23.00 in a research note on Tuesday, May 2nd. Finally, Bank of America lowered their price objective on shares of Travere Therapeutics from $52.00 to $39.00 in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Travere Therapeutics has a consensus rating of Moderate Buy and a consensus target price of $29.85.

Travere Therapeutics Stock Down 2.8 %

NASDAQ:TVTX opened at $16.31 on Monday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 4.58 and a current ratio of 4.63. The firm has a market cap of $1.22 billion, a P/E ratio of -3.67 and a beta of 0.46. Travere Therapeutics has a fifty-two week low of $14.51 and a fifty-two week high of $29.14. The firm has a 50-day simple moving average of $19.49 and a two-hundred day simple moving average of $20.28.

Travere Therapeutics (NASDAQ:TVTX – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.01. Travere Therapeutics had a negative net margin of 130.98% and a negative return on equity of 236.09%. The company had revenue of $55.87 million during the quarter, compared to the consensus estimate of $54.80 million. Analysts predict that Travere Therapeutics will post -4.51 earnings per share for the current fiscal year.

Institutional Trading of Travere Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TVTX. Parkwood LLC grew its stake in shares of Travere Therapeutics by 3.6% during the 3rd quarter. Parkwood LLC now owns 15,246 shares of the company’s stock valued at $376,000 after acquiring an additional 532 shares during the period. Arizona State Retirement System boosted its position in shares of Travere Therapeutics by 4.6% in the fourth quarter. Arizona State Retirement System now owns 15,340 shares of the company’s stock worth $323,000 after purchasing an additional 669 shares during the period. Legal & General Group Plc increased its stake in shares of Travere Therapeutics by 4.4% in the second quarter. Legal & General Group Plc now owns 22,601 shares of the company’s stock worth $548,000 after purchasing an additional 957 shares in the last quarter. AlphaCentric Advisors LLC raised its position in shares of Travere Therapeutics by 5.4% during the 1st quarter. AlphaCentric Advisors LLC now owns 19,640 shares of the company’s stock valued at $442,000 after purchasing an additional 1,000 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of Travere Therapeutics by 9.4% during the 4th quarter. ProShare Advisors LLC now owns 13,226 shares of the company’s stock valued at $278,000 after buying an additional 1,132 shares in the last quarter.

Travere Therapeutics Company Profile

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Travere Therapeutics, Inc is a biopharmaceutical company. It engages in the identification, development, commercialization, and distribution of therapies to people living with rare diseases. The firm’s products include Chenodal, Cholbam, and Thiola. The company was founded by Martin Shkreli on February 7, 2008 and is headquartered in San Diego, CA.